VMP’s operations were launched in 1988, when Mauno and Riitta Savolainen established Varamiespalvelu and opened the first business location in Turku. Initially the Company offered staffing services mostly to the construction sector and its associated manufacturing industries.
In the mid-1990s, the use of staffed employees began to increase rapidly, and to control expansion, Varamiespalvelu decided to create a franchising concept as the first company in its industry. The first franchisee-managed service areas were opened in 1997 in Jyväskylä, Lahti, Vantaa, Espoo and Oulu. After that, operations expanded rapidly into other cities in Finland. A franchisee of the Varamiespalvelu chain has been chosen as the best franchisee in Finland four times since 2003.
In 2005, Suomen Franchising-Yhdistys (the Finnish Franchising Association) chose Varamiespalvelu as the best franchise chain in Finland. Operations in Sweden were launched in 2008 through a business acquisition, when Varamiespalvelu acquired Prima Bemanning AB, a local HR services company.
In 2010, the Company executed a brand redesign in which it adopted the VMP Group brand. During 2012, VMP’s strategy was revised to better suit new requirements in the HR services business. The revised strategy focused on growth, profitability, riskanagement and enabling a more comprehensive service offering. The Company began to expand its service offering from staffing to more comprehensive HR services. The staffing franchising model was also revised as part of the new strategy during 2014–2015. The Company reduced the number of its own units in Finland to three and sought a more local profile through its franchisees. In addition, the franchise fee model was changed.
As part of its strategy, VMP began to grow its service range through business acquisitions by initially acquiring Workcontrol Oy in 2010 and Alina Hoivatiimi Oy in 2013. VMP acquired the majority stake in Romana Image Oy in 2014, expanding its offering to recruitment and organizational development services. VMP continued to grow its service package and strengthen it through business acquisitions in 2015 by acquiring a majority stake in Eezy Osk, which offers self-employment services and currently forms VMP’s Self Employment Service Area, and in 2016 it acquired the majority of the shares of PD Personnel Development Oy Ltd, which focuses on recruitment and organizational development services.
The funds managed by private equity investor Sentica acquired the majority in VMP on October 2017. Supported by the new majority owner, VMP continued to execute its strategy by acquiring the entire share capital of Staff Plus Oy in November 2017, strengthening the service offering of VMP’s Staffing Service Area in the restaurant sector, as well as Arja Raukola Oy in spring 2018, further reinforcing VMP’s Staffing offering.
VMP was listed to Firth North on June 2018.
After the IPO the company has continued active corporate development via acquisitions. VMP has acquired Henkilöstötalo Voima, Henkilöstöratkaisu Extraajat Ltd, the HR services company Enjoy and Corporate Spirit Oy, and has divested Alina Hoivatiimi Oy.